Doe Deere founded makeup and beauty business Lime Crime from a place of passion. Although passion is helpful in starting your own business, it cannot be the only guiding factor. Finances and business plans are also essential to the budding entrepreneur. Learn more:

Having a passion for a particular topic or area of business is great way to start thinking about starting your own business. After finding that passion, a great next step is to research market trends for your business idea and see if the rest of the world is ready for your passion to hit the market stream.

Researching your business idea is also key in the next step of the process, which is cultivating a business plan. This plan will put down on paper what your intentions are and where you see your business growing and ways to get to certain goals of the business. Having a business plan is not only important for you as you sketch out what you want your business to look like in the upcoming years, but you cannot get loans or any business financial help without a business plan. Companies and banks are more apt to shell out money to individuals with tailored business plans, because less risk is involved in investing with them. Learn more:

After researching market values and beefing up your business plan, it is important to consider a few other things. First of all, starting your own business is going to take a lot of your time and energy. This may seem obvious, but it is important to note that there may be days, weeks, months or even years where you are working your full time job and then working full time on your business as well. If possible, think about how to strategically manage your time so you do not face burnout and to keep your passion – which drove you to start this en devour in the first place – alive.

Doe Deere will be the first to tell you that keeping your eye on the customer is a great way to keep your business passions alive. With keeping her company current and on trend, Deere researches her buyers, what they like to purchase and general information about their generations, as well as tries out her products on herself before they even hit the shelves. Learn more:

Passions can pay off and make all the hard work completely worth it. Just prepare with research, a business plan and knowing that you’ll have some sacrifices and keep your business passions alive. Learn more: